Jefferies Financial Group Equities Analysts Lower Earnings Estimates for Rio Tinto plc ADR (NYSE:RIO)

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Rio Tinto plc ADR (NYSE:RIO) – Equities researchers at Jefferies Financial Group cut their FY2020 earnings estimates for Rio Tinto in a research note issued to investors on Wednesday, July 8th. Jefferies Financial Group analyst C. Lafemina now expects that the mining company will post earnings of $5.83 per share for the year, down from their prior estimate of $5.84.

RIO has been the topic of several other research reports. UBS Group reissued a “neutral” rating on shares of Rio Tinto in a report on Thursday, June 25th. Exane BNP Paribas lowered shares of Rio Tinto from an “outperform” rating to a “neutral” rating in a report on Friday, June 5th. Zacks Investment Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a report on Friday, June 12th. Bank of America raised shares of Rio Tinto from a “neutral” rating to a “buy” rating in a report on Friday, May 29th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Rio Tinto in a report on Tuesday, May 26th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.00.

Shares of Rio Tinto stock opened at $58.75 on Monday. The firm has a market capitalization of $73.38 billion, a PE ratio of 9.28 and a beta of 0.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.56 and a quick ratio of 1.24. The company’s fifty day moving average price is $56.12 and its two-hundred day moving average price is $51.91. Rio Tinto has a 52-week low of $35.35 and a 52-week high of $61.75.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Anderson Hoagland & Co. grew its holdings in shares of Rio Tinto by 0.9% in the 2nd quarter. Anderson Hoagland & Co. now owns 23,250 shares of the mining company’s stock worth $1,306,000 after purchasing an additional 200 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of Rio Tinto by 16.4% during the second quarter. Carroll Financial Associates Inc. now owns 1,759 shares of the mining company’s stock worth $98,000 after buying an additional 248 shares in the last quarter. MML Investors Services LLC raised its stake in Rio Tinto by 3.8% in the first quarter. MML Investors Services LLC now owns 7,325 shares of the mining company’s stock valued at $334,000 after purchasing an additional 271 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Rio Tinto by 2.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,547 shares of the mining company’s stock valued at $864,000 after purchasing an additional 283 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Rio Tinto by 27.3% in the second quarter. Global Retirement Partners LLC now owns 1,323 shares of the mining company’s stock valued at $74,000 after purchasing an additional 284 shares in the last quarter. 7.51% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Company Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Earnings History and Estimates for Rio Tinto (NYSE:RIO)

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